Business

India’s Smartphone Exports Hit $3 Billion In January; Soar By 140%

India’s smartphone exports saw a record-breaking 140% year-on-year surge in January 2024, reaching ₹25,000 crore ($3 billion).

This historic high was driven by increased production and overseas shipments from global tech giants Apple and Samsung, according to industry estimates.

For the April 2023 -January 2024 period, India’s total smartphone exports hit ₹1.55 lakh crore, a 56% increase from ₹99,120 crore in the previous financial year.

Apple Leads The Export Boom

Apple dominated India’s smartphone exports, contributing nearly 70% of total shipments. Among its major manufacturing partners:

  • Foxconn (Tamil Nadu): Led exports with 50% share, growing 43% year-on-year.
  • Tata Electronics (Karnataka): Contributed 22% of iPhone exports after acquiring Wistron’s factory.
  • Pegatron (Tamil Nadu): Accounted for 12% of exports; Tata acquired a 60% stake in Pegatron in January.

Tata Electronics has now emerged as a key iPhone manufacturer in India, with its acquisitions of Wistron and Pegatron signaling India’s growing role in Apple’s supply chain.
Meanwhile, Samsung accounted for 20% of total smartphone exports, further strengthening its Indian manufacturing base.

PLI Scheme Boosts India’s Mobile Manufacturing

India’s Production Linked Incentive (PLI) scheme has been a game-changer, attracting major tech manufacturers looking to diversify supply chains beyond China.
Union Minister of State for Electronics and IT Jitin Prasada informed Parliament recently:
“Due to the policies of the government for promotion of electronics manufacturing, India has become a mobile phone exporter now from a mobile importing country in 2014- 15,”

  • ₹10,213 crore invested in Indian electronics manufacturing (as of Dec 2024).
  • 1.37 lakh+ direct jobs created.
  • ₹6.62 lakh crore worth of electronics produced.
  • Mobile phone production grew 5x from 60M units (2014-15) to 330M units (2023-24).

India Transforms From Importer To Mobile Export Hub

India has transitioned from a mobile phone importer to an exporter within a decade:

  • In 2014-15, India imported 74% of the mobile phones sold.
  • By 2024, India will produce 99.2% of the mobile phones used domestically.
  • Mobile phone exports surged from ₹22,868 crore (2020-21) to ₹1,29,074 crore (2023-24), growing at a CAGR of 78%.

Smartphone Exports From India To Reach $20 Billion By 2025

Union Minister Ashwini Vaishnaw expects India’s smartphone exports to touch $20 billion (₹1.68 lakh crore) in 2024-25.
With continued government support and rising global demand, India is strengthening its position as a major player in the global smartphone market.

Also Read: Maha Prasad: World’s Most Efficient Food Distribution System With Minimal Waste

Anamika Agarwala

Recent Posts

US Vice President JD Vance Meets PM Modi In Delhi During First Official Visit To India

JD Vance, accompanied by Second Lady Usha Vance and their three children, met PM Modi…

8 hours ago

PM Modi Honours Civil Servants On Civil Services Day; Applauds Excellence In Public Administration

PM Modi, addressed civil servants at Vigyan Bhawan to mark the 17th Civil Services Day,…

9 hours ago

Amit Shah Extends Greetings On Civil Services Day; Hails Civil Servants For Governance

Union Home Minister Amit Shah extends his greetings to the civil servants. He lauded their…

11 hours ago

Union HM Amit Shah Hails Forces After Bokaro Encounter That Killed 8 Naxals

Union Home Minister Amit Shah lauded security forces for neutralising eight Naxals in Jharkhand's Bokaro.

11 hours ago

Kathak Debut of Mamta Farsaiya Mesmerises Delhi At ‘Manch Pravesh’ Celebration

Indian classical dance took the spotlight at the Stein Auditorium, India Habitat Centre, as Mamta…

12 hours ago

How To Stay Safe From Delhi’s Scorching Heatwave And Prevent Heat Stroke

With Delhi reeling under an intense heatwave and daytime temperatures crossing 44°C in some areas,…

12 hours ago